I'm planing on using the profit from flips for down payments on buy and hold rentals.

Hi @Thomas Brady - definitely looks interesting.20 year amortization is a nice period of time for cashflow.What are your thoughts on how you would pay for the balloon payment at 10 years? 

His "renter" is 3 months behind on his payments and can legally be foreclosed on in my state.

Hi @Breon Smith are they saying $5K purchase price or just the initial investment to get the house, like a down payment? 

On an amortization schedule at 5% interest over 30 years, 192 payments have been made.

Explain how you are a credible buyer, have down payment funds, have a team, can get or have financing...  

I was thinking bullet payment of 5K and if not paid by due date 10.5% annual paid monthly after the 2 month period?

I borrowed some from my active one last week for down payment on a duplex but Maybe this is what I am looking for.

I've read a few articles describing the benefit of using a 3rd party like "cozy.com" to collect rents from tenants...one benefit being my routing and account number aren't given to tenants for direct deposit which can evidently lead to issues down the road...however, the main benefit being that a tenant can stall an eviction by direct depositing a portion of the rent owed into my account, thereby, nullifying the eviction process and having to start over since I "accepted" partial payment. 

.- Once you take over ownership, be sure to give the tenants your new payment address and instructions.